MKTG 2 -CHAPTER 2 QUIZ

Mission statements should be realistic and general in nature.

• TRUE

• FALSE

Mission statements should both emphasize the company's strengths in the marketplace and be motivating.

• TRUE

• FALSE

At America Online, "we create customer connectivity, anytime, anywhere," is a product-oriented business definition.

• TRUE

• FALSE

"At Nike, we sell shoes" is a market-oriented business definition

• TRUE

• FALSE

A firm's mission statement should be the basis for both its business and marketing objectives.

• TRUE

• FALSE

The image of a product in the minds of consumers is called market segmentation.

• TRUE

• FALSE

A market segment consists of consumers who respond in different ways to a given set of marketing efforts.

• TRUE

• FALSE

Holiday Inn has divided the total customer market into smaller segments and selected the most promising segments. Deciding what position it wants to occupy in these segments is called targeting.

• TRUE

• FALSE

When a company positions its product, it should first identify possible customer value differences within a market segment that could be the basis of a competitive advantage for the product.

• TRUE

• FALSE

The marketing mix consists of product, price, place, positioning, and promotion

• TRUE

• FALSE